Samsara Inc. (NYSE:IOT) shares are trading higher Friday after the company reported better-than-expected fourth-quarter financial results and issued first-quarter sales guidance above estimates on Thursday after the market closed. Also, the company issued fiscal-year 2027 guidance above estimates.
Double Beat As ARR Growth Accelerates
Samsara reported adjusted earnings per share of 18 cents, beating the consensus estimate of 13 cents. In addition, the company reported revenue of $444.29 million, beating the consensus estimate of $422.25 million and representing a 28% year-over-year growth.
The company reported net new annual recurring revenue of $144.8 million for the quarter, representing 33% year-over-year growth. Samsara ended the period with annual recurring revenue of $1.890 billion, up 30% year over year.
"Our performance is driven by the scale of our data asset, which now captures more than 25 trillion data points annually to fuel our AI-powered platform," said CEO and co-founder Sanjit Biswas.
Looking ahead, the company sees first-quarter adjusted earnings per share of 12 cents to 13 cents, versus the consensus estimate of 12 cents. Furthermore, Samsara anticipates revenue of $454 million to $456 million, versus the consensus estimate of $443.98 million.
For the fiscal-year, Samsara expects adjusted earnings per share of 65 cents to 69 cents, versus the consensus estimate of 59 cents. It sees revenue of $1.96 billion to $1.97 billion, versus the consensus estimate of $1.91 billion.
Consensus Ratings And Analyst Action
Samsara has a consensus rating of Buy and a consensus price target of $45.15. Recent analyst action include:
- BTIG analyst Nick Altmann maintained a Buy rating on Samsara and lowered the price target from $55 to $45.
- Keybanc analyst Jason Celino maintained an Overweight rating on Samsara and raised the price target from $40 to $41.
Samsara Shares Rise
IOT Price Action: At the time of publication, Samsara shares are trading 7.30% higher at $31.74, according to data from Benzinga Pro.
Image: Courtesy of Samsara
